The neglected essence of Islamic Finance
ME PoV Summer 2010 issue
Have Islamic Financial Institutions (IFIs) around the world, including the Gulf region, been so busy structuring products and services that they have overlooked the importance of communicating the essence of Islamic Finance?
This brief analysis suggests that investing in thought leadership programs, a hitherto neglected asset class, is an essential tool for the continuity, practice synergy and improved business performance of IFIs.
However, past experience of IFI practice differences, regulatory discrepancies and market divergences show that practice harmonisation has a challenging path ahead.